The present invention relates to magnetic inductors and transformers, and more specifically, to planar closed magnetic flux loops. Magnetic inductors and transformers are passive elements with applications in power converters and radio frequency (RF) integrated circuits (ICs) or chips, for example. Magnetic inductors include a set of coils to carry the currents and a magnetic yoke or core to store magnetic energy. Because of the reluctance or magnetic resistance of air gaps, a closed magnetic loop is desirable to facilitate high inductance. Other considerations are the in-plane uniaxial anisotropy requirement for magnetic materials and the planar nature of on-chip devices.